How to Upgrade Your Rental Facility to Attract Quality Tenants in 2022?

The new year can be an excellent time to upgrade your rental facility to increase its value, especially after a general reduction in rent in major parts of India due to the pandemic. With some quality upgrades, you can attract potential tenants. But how to finance the same? By using a personal loan! While a bank may offer you a home renovation loan, you usually have to visit the bank to go through lengthy document verification and loan approval. But it's not safe to step out of your home now, nor is it worth wasting hours to get the loan. A better alternative is seeking a personal loan on an online loan app. This eliminates the requirement of your physical presence. Moreover, all the loan procedures happen online, and therefore, superfast.

Benefits of Taking an Instant Personal Loan to Upgrade a Rental Facility

• You can borrow up to?3,00,000 to finance all kinds of property upgrades and even non-related expensive purchases (since these loans offer freedom in usage).
• You can repay the loan in 90, 180, 270, or 365 days based on your capacity and convenience.
• You need not submit any security or collateral.
• You need to download the loan app online. Then the application, document uploads, verification, loan approval, and disbursal will all happen digitally. After that, the loan amount will be immediately transferred to your bank account.
• Your monthly income needs to be above?15,000 to make you eligible for the loan.

Upgrade Ideas

1. Install wooden flooring

You can install wooden flooring since it's durable, long-lasting, attractive, easy-to-clean, and hypoallergenic. Explore options like mahogany, walnut, cherry, maple, and oak wood. Although wooden flooring is expensive, a personal loan from an online loan app can finance it smoothly.

2. Upgrade the kitchen

Consider these valuable additions to your kitchen to make it more functional:

• Countertops of substantial materials resistant to chipping, cracking, or breaking under pressure
• Long-lasting and easy-to-clean metallic hardware, including the sink
• A tile backsplash to prevent grime from ruining the kitchen's look
• More storage space if needed

3. Upgrade the bathroom

Consider revamping the bathroom with these significant changes:

• Fix all underlying problems.
• Add slip-resistant shower bases and flooring.
• Choose good countertop material like natural stone.
• Install a tub if not already present.

A personal loan from an instant loan app will cover all the costs of kitchen and bathroom renovations.

4. Repaint

You can add a fresh coat of paint to the interiors to make them more welcoming.

5. Bring in Smart Home Appliances

Smart appliances like an air-conditioner that automatically turns off when the room is cooled, an electric iron that automatically goes off if left on for long, and an electric griller that alerts once the meat is grilled can impress the tenant - these are just some examples of smart appliances. A personal loan can fund all these big-ticket purchases.

6. Improve the Lighting

Consider replacing tube lights and bulbs with LED lights to enliven the interiors.

Conclusion

Make a list of the desired upgrades and decide the loan amount accordingly. Then go ahead and apply for a personal loan online on an instant loan app. Get ready to win quality tenants!

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